Nov 7 (Reuters) - British storage firm Lok'n Store Group Plc slipped to a full-year pretax loss from a profit last year, and said it expects trading conditions to remain challenging.
For the year ended July 31, pretax loss was 741,446 pounds ($1.17 million), compared with a profit of 950,558 pounds a year ago, the company said on Friday.
However, revenue rose 1.5 percent to 10.8 million pounds.
Lok'n Store said household demand for storage is affected more by the number of house moves than by the level of house prices.
Housing market transactions collapsed from a peak of 154,000 in December 2006 to 59,000 in September 2008, a decline of 62 percent, Lok'n Store said, adding that it had proved its resilience against these low volumes, with its household business falling only 1.3 percent over the period.

"Therefore despite the current economic environment we believe that the UK self-storage market offers excellent medium and long-term potential and Lok'nStore is well positioned to capitalise on this," the company said.
At 0852 GMT, shares of the company were up 2.5 percent at 61.00 pence.

($1=.6337 Pound)

(Reporting by Balachander Surianarayanan in Bangalore; Editing by Himani Sarkar) Keywords: LOKNSTORE/RESULTS (balachander.surianarayanan@thomsonreuters.com; +91 80 4135 5800; Reuters Messaging: balachander.surianarayanan.thomsonreuters.com@reuters.net)

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